In the final three trading days before the National Day holiday, the South China spot market stayed soft: aluminium prices continued to edge lower, the SHFE aluminium backwardation structure strengthened, and premiums over the next-month and far-month contracts were actually elevated. Ahead of the holiday, the willingness to cash out at the high basis was strong, and amid ongoing destocking, discount-priced cargoes still dominated spot circulation; demand was largely subdued, with only localized bargain-hunting replenishment and quite limited buying interest. On the whole, however, the high spot premium for aluminium ingots in South China remained largely intact. As of September 30, the SMM A00 aluminium (Foshan) spot premium over the 2610 contract stood at RMB 260 per tonne, still within...
Hindalco Industries is moving to structured digital tenders for spot sales of metallurgical-grade alumina in a bid to improve transparency, broaden market participation and strengthen price discovery in the global alumina market. The company is partnering with Metalshub for the initiative through its subsidiary Utkal Alumina International. The move comes as the alumina market continues to lack the transparent, transaction-based pricing mechanism available for aluminium. Hindalco said only around 10 per cent of the 55–60 million tonnes of alumina traded globally each year in the third-party market is sold through spot transactions, even though those sales can influence benchmark prices for a much larger volume of long-term contracts. Hindalco moves alumina spot sales to digital bidding...
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On Friday, April 28, China’s A00 aluminium ingot price has slipped by RMB 90 per tonne to stand at RMB 18,480 per tonne, with the spot contract price expected to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. The average prices are expected to range between RMB 18,460 per tonne and RMB 18,500 per tonne. As per the SMM data, the price in Chongqing has plunged, the highest at RMB 190 per tonne to score at RMB 18,680 per tonne. On the same day, prices in Gongyi, Shenyang and Linyi descended by RMB 90 per tonne to record at RMB 18,400 per tonne, and RMB 18,530 per tonne, respectively. In Foshan, Wuxi, and Hangzhou, the A00 aluminium ingot prices have dropped by RMB 80 per tonne to reside at RMB 18,600 per tonne, RMB 18,485 per tonne and RMB 18,510...
Anna-Michelle Asimakopoulou, the vice-chair of the European Parliament's International Trade Committee (INTA), pointed out that removing aluminium from the EU's list of strategic raw resources by the European Commission is highly unacceptable. Strategic raw materials like solar panels, electric batteries, heat pumps, and wind turbines are vital for the critical industries of the future and also an essential element to achieving the Net-Zero goals. And aluminium is a crucial component in all of these businesses and in the manufacture of electric cars in general. For example, aluminium accounts for 85 per cent of the material composition of a solar panel. Since 2010, the Commission has kept a list of Critical Raw Materials (CRM) to emphasise resources crucial to the EU's economy and value...
According to an S&P Global Commodity Insights report on Wednesday, April 26, Alcoa has withdrawn the force majeure for its Western Australian alumina business. The news came after Alcoa spokesperson confirmed the matter. But before that, there was hearsay in the market regarding the force majeure lift from several sources as early as April 21. Alcoa first notified of the force majeure to its alumina customers in January 2023, resulting from the impact of lower natural gas supply in Western Australia, cutting about 30 per cent of output at the Kwinana alumina refinery . Per the company’s 1Q2023 results, Kwinana refinery was being operated at 20 per cent or 438,000 tonnes per year less capacity as of March 31, as one of the five digesters remained offline. Although the gas supply situation...
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On Wednesday, April 26, Aluminium Stewardship Initiative announced that it successfully certified Vedanta’s aluminium smelter and captive power plant located in the Special Economic Zone (SEZ), Jharsuguda, against Performance Standard V2 (2017) certification. The certification acknowledges Vedanta’s manufacture and supply of primary aluminium in the form of billets, wire rods, ingot, sow ingot, and primary foundry alloys (PFA). ASI has also certified Vedanta’s Restora brand of low-carbon aluminium products against the Performance Standard. Vedanta is the largest producer of primary aluminium in India. The ASI Performance Standard V2 (2017) certification defines environmental, social and governance principles and criteria to address sustainability issues in the aluminium value chain. Mr...
Noriko Baidya, the founder of Island Keepers CNMI, stated that her team saw a dramatic decrease in aluminium cans recovered. Cleanup volunteers discovered fewer soda and beer cans at beaches and other public spaces over the weekend. Baidya and her colleagues clean up beaches and other tourist spots regularly. Director of the Division of Environmental Quality Zabrina Cruz said that this year's cleaning recovered less aluminium cans in almost every area. The federally funded Recycle Redemption Initiative is a collaboration between the Governor's Office, the Office of Grants Management & State Clearinghouse, the Bureau of Environmental & Coastal Quality, the Office of Planning and Development, the Zero Waste Task Force, and the Department of Public Works. "What is very interesting is that...
In line with the report published last day that Century Aluminium agreed to buy a 55 per cent stake in Jamalco, the US-based primary aluminium producer signed a purchase contract with Noble Group Holdings Limited for US$1. The deal is expected to close by the end of April 2023, but the full transaction price is unknown. This update was published after Century said in filings, “A wholly owned subsidiary of Century will acquire General Alumina Holdings Limited, a Noble subsidiary and owner of Noble’s 55 per cent interest in Jamalco, for US$1. The transaction is expected to close by the end of April 2023.” Although the deal price is not explained, it implies the transaction may have cleared Noble of liabilities for Jamalco going forward. The Hong Kong-based commodity trader Noble acquired a...
The Chinese multinational automotive company Geely's EV brand Zeekr is the latest to use Tesla's "Gigapress" die-casting method to reduce the cost of electric cars. Jiang Kehong, the Chief of Zeekr's manufacturing technology, said, "Chinese carmaker had started using massive aluminium die casts to make a large rear underbody section of its Zeekr 009 six-seat, multipurpose van (MPV)." "The technique had helped Zeekr eliminate almost 800 welding points, cut defects, made the car lighter, and boosted its structural stiffness, improving the ride of the MPV which went on sale in China this year. In the future, Zeekr will use giga-casting technology on more models." Zeekr's switch to the Gigapress method coincides with Chinese rival Xpeng's adoption of a new vehicle platform technology that...
Hydro has struck a deal with Glencore under which Glencore would purchase 30 per cent of the Brazilian alumina refinery Hydro Alunorte and 5 per cent of the Brazilian bauxite production Mineraco Rio do Norte (MRN). Glencore will buy an extra 40 per cent of MRN, now controlled by Vale. Hydro will purchase this 40 per cent stake from Vale and promptly sell it to Glencore on a back-to-back basis, following which Hydro will no longer possess a stake in MRN. The bauxite arrangement between Vale and Hydro will be terminated, and Glencore will continue to supply about 30 per cent of Alunorte's long-term bauxite demand from MRN after the transactions. Hydro's 2025 plan, unveiled in 2020, set a clear goal of increasing profitability and driving sustainability across the organisation. As part of...
The aluminium production in China for the rest of the months of 2023 might need to be clarified. Although, when compared to the same month last year, China's primary aluminium output escalated by 3 per cent in March. The growth was more sedated than in earlier months. However, this did provide some relief, as the future of output and the price of aluminium globally appears less promising. The Yunnan province of China , which produces around 12 per cent of China's total aluminium capacity, has seen a string of power outages that have hampered production. In fact, due to insufficient rainfall since September 2022 of the previous year, Yunnan has had problems with its electricity output. The aluminium smelters in the region are still constrained by these power problems, which decelerate...
According to the Shanghai Metals Market, China’s A00 aluminium ingot price has slumped by RMB 180 per tonne on Thursday, April 27, to stand at RMB 18,570 per tonne, marking a downtrend for almost a week. Hence, on a week-on-week calculation, the price is down by RMB 570 per tonne or 2.83 per cent from RMB 19,110 per tonne. The average prices are estimated to range between RMB 18,550 per tonne and RMB 18,590 per tonne, with a spot contract to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. In Foshan and Chongqing, A00 aluminium ingot price has plunged by RMB 190 per tonne to peg at RMB 18,680 per tonne, followed by the downfall of RMB 175 per tonne in Wuxi to rest at RMB 18,565 per tonne. In Gongyi and Shenyang, the primary aluminium ingot price...
LME aluminium opened at US$2,332 per tonne on Wednesday and closed at US$2,331 per tonne, down 0.04 per cent. On Wednesday, April 26, both LME aluminium cash bid price and LME aluminium official settlement price increased by US$27 per tonne or 1.16 per cent and US$26.5 per tonne or 1.14 per cent to halt at US$2,339 per tonne and US$2,339.50 per tonne. 3-month bid price and 3-month offer price ascended by US$23.5 per tonne and US$24 per tonne to settle at US$2,355 per tonne and US$2,356 per tonne. December 24 bid price and December 24 offer price hiked by US$27 per tonne or 1.07 per cent to score at US$2,532 per tonne and US$2,537 per tonne. LME aluminium opening stock came in at 571800 tonnes. Live warrants and Cancelled warrants settled at 498700 tonnes and 73100 tonnes. LME aluminium...
Following a year of phenomenal development, MQP, the specialist in high-efficiency grain refiners, which lower costs and eradicate flaws like razor streaks in aluminium alloys, has won a worldwide business award. At the 2023 BizX Awards at London's ExCel, TV sports commentator Gabby Logan gave the Best Import/Export award to Midlands-based MQP. It's been a year of spectacular success for the family-run Solihull firm, which has raised tonnage by more than 30 per cent and earnings by more than 600 per cent in 2022. The award was presented to MQP for the efficient way it transports its aluminium grain refiner, a crucial component necessary in casting sheets and billets for anything from kitchen foil to automobile roof panels in order to prevent cracks and flaws. John Courtenay, the Chairman...
Porsche AG and Norsk Hydro ASA will collaborate to further lower the carbon footprint of Porsche's vehicle models by using Hydro's low-carbon aluminium and extrusions. Porsche will be able to reduce the footprint of aluminium in future vehicle projects by around 3.5 kilograms of CO2 per kilogram aluminium by 2025. This is around 60 per cent less than Europe's current primary aluminium consumption. Aluminium's use in Porsche vehicles has continuously increased because of its exceptional features in pliability, low weight, and strength. Aluminium is critical in converting an electric vehicle into a sports car. Aluminium accounts for almost 30% of the overall weight of the Porsche Taycan, the brand's first entirely electric sports vehicle. "Porsche is working towards a net carbon-neutral...
Recycleye, a pioneering British technology business, and MSS Inc., a prominent US optical sorting equipment manufacturer, have established a North American strategic alliance to combine their capabilities and offer innovative technologies to the waste sorting and recycling sectors. The dependable MSS, Inc. optical sorting system has incorporated Recycleye AI technology to create a formidable new family of products announced today as MSS Vivid (Visually Verified Identification) AI. This novel method is distinctive among the available AI identification and extraction options. It blends potent Recycleye AI vision systems with reliable MSS air ejection system capabilities to sort material at the maximum volume. Recycling equipment can run at incredible belt speeds, process more waste, and...
According to the International Aluminium Institute, Africa’s primary aluminium production during the first quarter of 2023 ended March 31, stood at 392,000 tonnes, down by 3.21 per cent or 13,000 tonnes from 405,000 tonnes during Q4 2022. On a year-on-year basis, the output edged a drop of 1.26 per cent from 397,000 tonnes. However, Africa’s monthly output in March stood 8,000 tonnes or 6.50 per cent higher than 123,000 tonnes in February at 131,000 tonnes, but fell 6,000 tonnes or 4.38 per cent from 137,000 tonnes a year ago. On the other hand, Africa’s average daily output in March 2023 recorded a fall month-on-month from 4,400 tonnes to 4,200 tonnes. On an annual basis, the daily out in March also dropped from 4,400 tonnes. The world’s primary aluminium production in March 2023 was...
Emirates Global Aluminium (EGA), the UAE's largest industrial firm outside of oil and gas, and RECAPP by Veolia have joined forces to promote aluminium recycling in UAE schools and institutions. The effort will begin with 12 schools near EGA's Abu Dhabi and Dubai businesses. "Aluminium is an infinitely-recyclable material, vital for creating a sustainable society. Despite its potential, too much aluminium is discarded in the UAE, impacting our economy and environment. Our partnership with RECAPP by Veolia aims to transform this behaviour by engaging young people, who are most receptive to change and have the greatest stake in our collective future. By fostering a culture of sustainability and environmental stewardship, we empower the next generation to become leaders in environmental...
On Monday, April 24, a fire broke out at the Novelis aluminium rolling factory in Mill Township. According to Dennison Fire Chief David McConnell, the top of the property at 7335 Newport Road SE caught fire due to an exhaust fan. As per the reports, no injuries were reported. A team from the Uhrichsville Fire Department utilised a ladder truck to reach the roof and extinguish the fire within 15 to 20 minutes. The estimated damage to the building was reported at around $50,000. Smith Ambulance checked one employee for smoke inhalation. When firefighters arrived, all workers had been evacuated from the workplace. At 9:56 p.m., they were summoned. McConnell said firefighters from Dennison and Uhrichsville arrived first at 9:59 p.m. and departed at midnight. Firefighters from Warwick...
On Tuesday, April 25, Century Aluminum Company announced a significant step towards acquiring a sizeable share in a joint Jamaican bauxite mining and alumina production venture. The company has reportedly signed an agreement with Noble Group Holdings Limited (Noble) to obtain 55 per cent of its ownership in Jamalco. According to the agreement signed, a wholly-owned subsidiary of Century Aluminum will acquire General Alumina Holdings Limited, a Noble subsidiary and owner of Noble’s 55 per cent interest in Jamalco. The transaction is likely to close by April-end 2023. Century’s investment in Jamalco will prove to be highly strategic, helping the company secure a long-term alumina supply chain, the most critical raw material for aluminium production. Jesse Gary, President and CEO of Century,...
